MS SB3043

Authorizes Mississippi to issue state general obligation bonds not exceeding $38,340 to assist the City of Natchez in constructing a monument commemorating the Civil Rights Movement of the 1960s on the grounds of the Natchez City Auditorium.

Creates a special fund designated the "2018 City of Natchez Civil Rights Memorial Construction Fund" within the State Treasury to receive bond proceeds and disburse funds for construction costs under the Department of Finance and Administration's discretion.

Bonds issued under this section are general obligations of the State of Mississippi backed by the full faith and credit of the state, with maturity not exceeding 25 years from date of issue and interest rates not exceeding limits in Section 75-17-101 of Mississippi Code.

Prohibits bond issuance after July 1, 2024, and provides that any remaining funds after project completion shall be applied to pay debt service on the bonds issued.

Bonds issued are exempt from all taxation in Mississippi and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies.